iCrowdNewswire Jan 14, 2021 4:38 AM ET
Market Research Future published a half-cooked research report on global pressure switch market. The pressure switch market is expected to expand at 4.43% CAGR during the period 2018 to 2023.
Pressure Switches are mostly used in industrial applications where there is operation for cold applications which necessitates closing the switch at desired pressure level either in pressure rise or pressure fall situation. It is also used in automation and transportation sector which enhances the market growth. Monitoring, control and safety & alarm system are the major applications in this market due to which it is estimated to grow at a phenomenol rate during the forecast period.
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Based on type, the market is segmented as electromechanical and solid-state. Electromechanical segment is anticipated to dominate the market during the forecast period due to increasing adoption of electromechanical pressure switches in industrial and commercial sector. Considering the pressure range, the market is segmented as below 100 bar, 100 – 400 bar and Above 400 bar. Below 100 bar segment is estimated to enhance the market growth during the forecast period, due to rising application of pressure switch in automotive, industrial and transportation sector.
The global pressure switch market is expected to grow at 4.43% CAGR during the forecast period.
Market Research Analysis
Asia-Pacific region accounts for the largest market share followed by India and japan as the heaviest in contributing the growth.
Region wise, Asia-Pacific region held the largest market share of the global pressure switch market in 2017. It is anticipated that Asia-Pacific region will continue to dominate the market during the forecast period, mainly due to the rising application of pressure switch in industrial and commercial sector, as developing countries shows a significant growth in automation. In Asia-Pacific region countries such as India is increasing the contribution towards manufacturing sector, while South Korea is investing heavily in automotive & transportation sector which enhances the market demand for pressure switch market in the forecasted period. Owing to its reliability in operation, North America is also increasing the market due to stringent regulations by government in terms of safety measures.
Scope of the Report
This report provides an in-depth analysis of the global pressure switch market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the pressure switch market by its type, pressure range, application, end-user and region.
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By Pressure Range
- Below 100 bar
- 100 – 400 bar
- Above 400 bar
- Heating, ventilation and air conditioning (HVAC)
- Monitoring & Control
- Safety and Alarm Systems
- Hydraulics & Pneumatics
- Automotive & Transportation
- Process & Manufacturing Industry
- North America
- Rest of the World
- ABB Ltd. (Switzerland)
- Eaton (Ireland)
- Danfoss (Denmark)
- Parker Hannifin Corp (US)
- Bosch Rexroth AG (Europe)
- Baumer (Switzerland)
- Emerson Electric Co. (US)
- Honeywell International Inc. (US)
- Schneider Electric (France)
- SMC Corporation of America (US)
- SOR Inc. (US)
- Endress+Hauser Consult AG (Switzerland) and Barksdale Inc (US).
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